First Southwest to be bought by Dallas group; focus unaltered.

DALLAS -- A Dallas-based investment group has agreed to purchase a controlling interest in First Southwest Co. in a move that few expect to change the state's top financial advisory firm -- at least for now.

The investment group, FSW Holdings Inc., said it expects to close the deal by Oct. 1 and plans eventually to build up the company's financial advisory business outside Texas, begin underwriting more municipal issues, and develop a larger corporate business.